The latest Global Knowledge Brief, “Auditing Social Media: Adding Value by Improving Governance,” produced by The Institute of Internal Auditors, examines internal audit’s involvement in the implementation and evaluation of social media strategy. Audit executives can assess organizational social media capabilities and its role in the business model to establish enterprise-wide policies, assessments, and more.

As one would imagine, many organizations have incomplete, or nonexistent, social media strategies. They are reactive rather than proactive, and organizations lack many of the processes needed to successfully manage their social media platform. The “Auditing Social Media” Knowledge Brief covers how to develop an effective social media strategy by:

Assessing the organization’s social media capabilities.

Determining the role social media has within the company’s business model.

Recommending enterprise-wide guidelines and policies.

Defining and establishing a social media framework.

A solid social media strategy, including clear policies, procedures, and crisis management, can be the difference between distinction and extinction.